Stockholders' equity

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Stockholders' equity

Stockholders’ equity

Authorized shares

We are authorized to issue two classes of stock, common stock and preferred stock. On June 9, 2015, the board of directors amended and restated our Amended and Restated Certificate of Incorporation, effective upon the closing of our IPO on July 1, 2015, and authorized us to issue up to 300,000,000 shares of common stock and 10,000,000 shares of undesignated preferred stock.

IPO

Upon closing of our IPO on July 1, 2015, all outstanding shares of previously issued redeemable convertible preferred stock converted into an aggregate of 35,017,884 shares of common stock. Additionally, we issued 7,525,000 shares of common stock in our IPO.

Dividend

On June 12, 2015, our board of directors declared a cash dividend to our stockholders of record on our common and previously issued redeemable convertible preferred stock in the amount of (1) $0.36368 per share of common stock and Series A preferred stock and (2) $0.72736 per share of Series B preferred stock and Series B-1 preferred stock or $20.0 million in the aggregate. The dividends were paid in June 2015.

Common and Preferred Stock

As of December 31, 2016 and December 31, 2015, there were 46,172,318 and 45,581,662 shares of common stock issued, and 46,142,483 and 45,485,294 shares of common stock outstanding, respectively. As of December 31, 2016 and December 31, 2015, there were no preferred shares issued and outstanding. Each outstanding share of common stock is entitled to one vote per share.